Canadian Companies Need to Upgrade Technology to Compete in China: New HSBC-commissioned Report

Canadian manufacturing industries doing business in China will need to make technological upgrading a priority if they are to keep pace with Chinese and foreign companies that are rapidly enhancing their technology, according to Shifting Chinese Demand: New Opportunities for Canadian Companies, the latest in a series of reports from the Conference Board of Canada (CBoC). The report, which was commissioned by HSBC Bank Canada, says that while commodities are expected to remain a large share of Chinese imports, the country’s transition to a consumption-led economy to meet the needs of a growing middle class will increase demand for goods and services. Canada holds a global competitive advantage in several of the sectors expected to see significant growth, including personal, cultural, and recreational services; technical services; financial services; and, computer and information services. Click here to read the full report.